State Treasurer State of Michigan cut its holdings in shares of NRG Energy Inc (NYSE:NRG) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,968 shares of the utilities provider’s stock after selling 7,400 shares during the quarter. State Treasurer State of Michigan’s holdings in NRG Energy were worth $3,286,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. FMR LLC increased its holdings in NRG Energy by 27.3% in the 3rd quarter. FMR LLC now owns 14,143,074 shares of the utilities provider’s stock worth $528,952,000 after acquiring an additional 3,032,733 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in NRG Energy by 362.4% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 3,838,175 shares of the utilities provider’s stock worth $143,547,000 after acquiring an additional 3,008,067 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in NRG Energy by 33.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,946,617 shares of the utilities provider’s stock worth $259,803,000 after acquiring an additional 1,748,586 shares during the last quarter. Alliancebernstein L.P. increased its holdings in NRG Energy by 67.9% in the 3rd quarter. Alliancebernstein L.P. now owns 3,881,049 shares of the utilities provider’s stock worth $145,151,000 after acquiring an additional 1,569,817 shares during the last quarter. Finally, Steadfast Capital Management LP increased its holdings in NRG Energy by 22.5% in the 3rd quarter. Steadfast Capital Management LP now owns 7,239,595 shares of the utilities provider’s stock worth $270,761,000 after acquiring an additional 1,330,644 shares during the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on NRG shares. Deutsche Bank lowered NRG Energy from a “buy” rating to a “hold” rating and set a $45.00 price objective for the company. in a report on Monday, January 28th. Zacks Investment Research raised NRG Energy from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Friday, January 4th. SunTrust Banks lifted their price objective on NRG Energy from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, October 29th. ValuEngine raised NRG Energy from a “hold” rating to a “buy” rating in a report on Tuesday, November 13th. Finally, Citigroup lifted their price objective on NRG Energy from $38.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, December 10th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $41.86.
NYSE NRG traded up $0.42 during trading hours on Monday, hitting $42.25. The company had a trading volume of 450,622 shares, compared to its average volume of 3,079,200. NRG Energy Inc has a 52 week low of $23.75 and a 52 week high of $43.08. The company has a quick ratio of 1.42, a current ratio of 1.57 and a debt-to-equity ratio of 7.16. The company has a market cap of $12.13 billion, a P/E ratio of 38.76 and a beta of 0.78.
NRG Energy (NYSE:NRG) last issued its earnings results on Thursday, November 8th. The utilities provider reported $0.94 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.18). NRG Energy had a positive return on equity of 61.11% and a negative net margin of 11.52%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the prior year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that NRG Energy Inc will post 3.11 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Friday, February 1st will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, January 31st. This represents a $0.12 annualized dividend and a yield of 0.28%. NRG Energy’s dividend payout ratio is currently 11.01%.
In other news, EVP Christopher Moser sold 34,296 shares of NRG Energy stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $38.23, for a total transaction of $1,311,136.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Gaudette sold 18,571 shares of NRG Energy stock in a transaction dated Thursday, January 10th. The shares were sold at an average price of $39.42, for a total value of $732,068.82. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.
About NRG Energy
NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. The company is involved in the generation of electricity using fossil fuel and nuclear sources. The company provides electricity to 2.9 million residential, commercial, and industrial consumers; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; and carbon management and specialty services.
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